FHLB Cincinnati Announces Second Quarter 2024 Results
The Federal Home Loan Bank of Cincinnati today released unaudited financial results for the second quarter ended June 30, 2024.
For the second quarter, net income was $144 million and return on average equity (ROE) was 9.05 percent. This compares to net income of $218 million and ROE of 10.71 percent for the same period of 2023.
Total assets at June 30, 2024 were $124.5 billion, an increase of $0.5 billion (less than one percent) from year-end 2023.
Mission Assets and Activities – comprising the major products we offer to members including Advances, Letters of Credit (off-balance sheet) and the Mortgage Purchase Program – were $134.2 billion at June 30 2024, an increase of $6.4 billion (five percent) from year-end 2023. The growth in Mission Assets and Activities from year-end 2023 was driven primarily by an increase in Advances as members continue to have a steady demand for liquidity. The FHLB's business model is designed to support significant changes in asset levels without having to undergo material changes in staffing, operations, risk practices, or general resource needs.